TOKYO: Japanese government bond prices dipped on Tuesday as stocks advanced and dimmed the safe-haven allure of debt, although market action was limited ahead of the closely-watched U.S. midterm elections.
The five-year JGB yield and the benchmark 10-year yield each rose half a basis point to minus 0.080 percent and 0.130 percent, respectively.
A debt auction on Tuesday still managed to attract sufficient demand.
The bid-to-cover ratio, a gauge of demand, at the 400 billion yen ($3.53 billion) 10-year inflation-linked JGB sale rose to 3.70 from 3.12 at the previous sale, with the new bonds seen to have drawn bids from investors such as pension funds.
Japan's Nikkei was up 1.1 percent, tracking gains in Wall Street. ($1 = 113.3300 yen)
Comments
Comments are closed.